Q&A SERIES #5-Deep Dive Into Dotsama Projects - SUBSOCIAL

Hello everyone, today we will continue our series “Q&A SERIES -Deep Dive Into Dotsama Projects” , and the goal is to post 2 episodes a week to improve and enriching the community with knowledge.

The Web has undergone evolution over time, something normal and transformative, the more technology is created it is a natural sense of evolution. To fully understand Subsocial, let’s start by breaking down the evolution of the Web from Web1 to Web3.

Web 1.0 was a pioneering era. This first generation of the Web was relatively static, with almost no video content available. It had a page shape that did not stray from the formatting of a printed page.

Web 2.0 ushered in a second wave, where everything was redefined. Instead of just static websites that propelled information to users, Web 2.0 introduced new forms of interactivity. Blogs became popular, and social networks began to emerge with Orkut, Facebook, and Myspace. CSS and AJAX are defining characteristics of this web system.

Web 3.0 includes the concept of Decentralized Autonomous Organizations (DAOs) as a new form of management and governance structure for web services and organizations. Like blockchain, DAOs rely on distributed consensus to make decisions rather than centralized authority.

Decentralization in Web 3.0 will also likely lead to the continued rise of decentralized financial services, which bypass traditional banking structures and can have a profound effect on the global financial system.

Have you ever thought that your ideas are really valuable? And that you can make it real in a decentralized environment?

And the main thing, you know that you are safe and that your data and content are really under your control and that you can price it at what “YOU” think you are really worth. It is not the big corporations that will dictate its real value…

This is where SUBSOCIAL comes in, with the proposal to bring data sovereignty in a decentralized way. Built with Substrate’s blockchain technology that facilitates connection in the DOTSAMA ecosystem (POLKADOT + KUSAMA) it also has IPFS technology that brings this security in data and file storage.

According to its site: “Subsocial is an open platform that allows anyone to launch their own decentralized censorship-resistant social networks and marketplaces. Subsocial will help you create your own decentralized version of the popular sites we see today, such as Medium, Twitter, Reddit, Instagram, Discourse, Patreon, OnlyFans and more.”

To talk about this wonderful initiative built at DOTSAMA, today we will receive YUNG BEEF who will represent the SUBSOCIAL project and its entire team.

START OF Q&A

John- Hello. First thank you for your availability to serve a large community. The interview is of utmost importance, and I am glad you could make yourself available. This questionnaire will serve as an educational collection for the entire community, especially for people just starting!

Together with the community,I’m raising some questions that I believe will help many others understand what you are doing better. I hope these questions regarding the project you represent will yield productive and enlightening information for everyone.

John- First, can you introduce yourself and your role in SUBSOCIAL?

I go by Yung Beef, I’m the Content Lead & Community Manager at Subsocial, but I’m also involved in other areas such as business development and marketing. On the side, I’m a Content Lead for The Polkadot Experience and The Kusama Experience, advise the Skylab Corp NFT project, and am on the team at GM Parachain.

John- It’s a great pleasure to have you here.

John- 1st Question: “What is the project of SUBSOCIAL tell me a little about your project”?

Subsocial is a set of Substrate pallets that allows anyone to launch their own decentralized social network or community. Subsocial is not a decentralized social network, like Twitter or Facebook, but rather Subsocial is a platform for building social networks. Applications built on Subsocial can feature built-in monetization methods and censorship resistance, where users will own their content and social graphs. Subsocial is designed specifically for facilitating social interactions on the blockchain, and these interactions do not have to be specifically social networking, as Subsocial can support apps like YouTube, Shopify, or even Airbnb.

John- 2nd Question: “What does SUBSOCIAL intend to solve “?

Subsocial intends to solve the problems created by Web2 social networks, such as censorship, monetization middlemen, non-transparent algorithms, and the fact that users don’t actually own their content and social graph.

John- 3rd Question: “What are your main products and services? Talk a little about them”

The Subsocial team has a few main products. First and foremost is our blockchain, which functions as the back-end for applications built on Subsocial. Think of it like connecting the servers of Facebook, Twitter, Instagram, Reddit, etc. all together so that they can share users and content. Next is our main web app, which is currently also named Subsocial, but we are going to rename it soon. At the moment it is the only application that lets you easily interact with the Subsocial network to make posts and read content. We plan to launch more applications in the future, as well as support third-party development teams that want to build applications. Our third product is Sub.ID, a great tool for seeing all of your Substrate addresses and balances in one place, along with crowdloan and NFT info. We are seeking funding from the Kusama treasury to continue development of Sub.ID. Last, we have begun teasing the release of our upcoming NFT collection. We will have more info about that soon.

John- 4th Question: ‘How has the journey of SUBSOCIAL in the POLKADOT/KUSAMA ecosystem been, and what positive experiences have you had so far?’

That is a good question, and I’m not sure I have a great answer for it, as I have only been with the team for around 13 months, though the project has been in development for around 3 years. It has definitely been quite the journey, as we have had a functional product for longer than almost any other team, though we are still working on decentralization. We are looking forward to what the future brings with the rise of XCMP implementations and how we can work with other project teams.

John- 5th Question: “‘Economically, we are in a negative period and the bear season of the crypto market. What are some of the plans being put in place to ensure the SUBSOCIAL remains sustainable?”

The team has made plans for an extended bear market, and we will keep building. We have the best interest of the project in mind.

John- 6th Question: How have the interactions and partnerships with other projects been? Tell us some partners your project has successfully worked with, and the use-cases they added to your project.

So far, our only official partner is the Subsquid team. They built us a custom blockchain indexer which will allow us to increase the performance of our web app and do some other cool things. Beyond that, we have plans to work with multiple other projects, such as Crust for storage and OAK for automation. We have not had the resources to pursue these yet, as we are focused on our chain.

John- 7th Question: “What plans for marketing do you have for the next quarters such as listing, promotions, etc, and how do you intend to involve the community?”

We are currently working on partnerships with a large number of teams in the ecosystem, and have some community engagement plans that we think are quite cool, but I cannot reveal anything about them yet, so stay tuned.

John- 8th question: “Has SUBSOCIAL been doing frequent stress tests?How have the developers been working to keep the ecosystem of your project updated and secure? Is there any security device in case of hacker attacks ?”

This may be a bit technical for me, but our chain should be fine to handle a huge amount of traffic. Most of the pallets that the chain is built with are standard Substrate pallets used by Polkadot and Kusama, and the team is keeping those up to date. The best attack prevention is the fact that blockchains have usage fees. If someone wants to attack the network, they have to spend a lot of money.

John- 9th question: “Why, in your opinion, should we consider adding SUBSOCIAL to the basket of assets that we should hold? Do you think the project’s tokenomics is healthy and sustainable? What forecasts do you have of burning or deflation incentives”?(if the project doesn’t exist tokens don’t need to answer)

We believe that social applications will be one of the big waves in the next crypto cycle, like GameFi and NFTs were in the last one. Additionally, Subsocial is the premier social blockchain in the Polkadot space, which we expect will be a very important ecosystem in the next cycle. Subsocial’s tokenomics are sound. A deflationary mechanism is already live in the form of burning SUB to create energy, and inflation has not started yet. Once inflation does start, users will be able to beat inflation by staking their tokens. In the future we plan to develop many different ways of locking up tokens, further decreasing the circulating supply. Additionally, the Subsocial treasury is vast, which is healthy for the future development of the network.

John- 10th question: “ We know that these doubts are resolved for the Portuguese community, in languages other than English to serve as a guide for all other countries! What are the plans and how do you see the importance of the non-English community around the world?”

We are building out a team of multilingual ambassadors right now, with the goal of enabling anyone to learn about Subsocial and use it. Less than 20% of the world speaks English, and we will not forget about the rest.

John- Would you like to leave a message for curious investors and enthusiasts of SUBSOCIAL?

Thank you for your support and feedback that helps us improve Subsocial. Please get in touch with us if you have any questions or are interested in building on Subsocial (you don’t need to be a blockchain developer).

END OF Q&A

That’s all, folks, this is just the beginning, several DOTSAMA projects will appear in this series, you can have fun and enjoy this journey here! Thank you so much for all of your support. See you at the next Q&A!!

SUBSOCIAL:

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